There are no major corporate earnings releases scheduled and most of the economic reports are likely to have a limited impact on the markets.

The most closely watched indicator, however, will be a report on the state of the U.S. services sector.

Here's what you need to know (all times ET, consensus estimates from Bloomberg):

At 3:45 am, the Italian PMI Services index will be released. This report will indicate how fast the service sector is growing. Analysts expect it to fall by 0.4 point from 43.9 in January, to 43.5 in February.

At 3:50, the French PMI Services Index will be released. It's expected to remain unchanged at the 42.7 level in February.

At 3:55, the German PMI Services Index will be released. It too is expected to remain unchanged at 54.1.

At 4 am, the Euro-Zone PMI Composite Index is expected to remain unchanged from January to February at 47.3.

At 10 am, the U.S. ISM non-manufacturing composite index is expected to fall by 0.2 point to 55.0 in February.

UK Halifax House Prices will also be released tomorrow, and are expected to have risen by 0.2 percent in February from January. In January house prices fell 0.2 percent.